Temenos banking systems provider is to acquire Viveo Group, the French market leader in core banking systems for US$81m.
Viveo Group serves over 750 financial institutions in more than 35 countries, with more than 400 customers in France, and has around 410 employees. Of Viveo’s total client base, around 350 customers use its core banking software and it counts banks like BNP Paribas, Caisse Dépargne, Société Générale, Crédit Agricole, Banques Populaires and La Compagnie Financière Edmond de Rothschild among its customers. Its employees are based chiefly in France, Romania, Belgium and Geneva.
In addition to growing its sales channel and client base, the acquisition also gives Temenos access to rich, complementary intellectual property and domain expertise. As well as core banking software, Viveo Group also has standalone solutions for payments, compliance, securities and anti-money laundering, which will be used by Temenos to strengthen or supplement its existing solutions.
Andreas Andreades, chief executive of Temenos, commented: “We are delighted to announce the acquisition of Viveo Group. Viveo brings a large, very high-quality customer base, deep domain expertise in sales and development and market leading complementary products. We believe the fit between the two organisations is very strong.”
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